The Chinese port city of Qingdao in Shandong province has cut non-residential end-user gas prices to RMB 3.25 per cubic metre ($14.5/MMBtu) from RMB 3.63/cm, backdated to 18 April, Qingdao’s pricing bureau said last week.
The cut was made because of a decline in the citygate tariff as a result of seasonally slack demand, and is expected to reduce gas costs by RMB 26.5 million.
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